Taking into account inflation using FRED's WM2NS money supply I use the BTC/WM2NS composite.
On the weekly chart trendline and 200D SMA confluence suggests one last flush or that BTC is close to bottoming out.
To represent current price, historical prices have to be inflated. The multiplier will always change to keep in line with current price.
The point of this chart is to recognise that this M2 adjusted value is worth taking into account in your TA given it has hit major targets EXACTLY
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Since my last Tradingview post I've been looking at the bitcoin cycle and putting it into perspective of real purchasing power by adjusting the price for the money supply.
More will becoming on the timechain (an x axis of block height rather than date) front, but I wanted to post about how undervalued bitcoin is in...